There are theories that the “Peak Oil” concept is a fraud concocted by the oil industries to increase prices amid concerns about future supplies. The […]
Continue Reading Peak Oil Conspiracy Theories
It’s said that to be classified as a world reserve barrel of oil, you must be able to retrieve the oil and sell it at a profit.
Well, prior to the great run up of oil prices 6 years ago the US had thousands of small pools of oil known to them within continental US. Oil at $20 per barrel, which was the low price in 2002, didn’t make it profitable for the oil companies to go after those known pools. However, oil at $60 a barrel is a different story.
Those pools are now considered as hugely profitable and should have been considered as world oil reserves for the United States. If that was the case then the US would be considered self sufficient in oil… not needing a pound from anyone else.
That would have created a problem.
Saudi Arabia buys over priced planes and parts from the US and demands that the US buy their over priced oil in return. That’s why the US still buys from the Saudi kingdom even when they now don’t need to or really want to.
Interesting that 17 out of the 19 terrorists of the 9/11 killings were identified as Saudi nationalists yet it’s Iraq they invaded… not Saudi Arabia. Bin Laden is a Saudi nationalist!
Hmmm. George Bush pushed to have the world increase oil prices to encourage the oil giants to go all out to explore for more oil. The US feels they’re held hostage by the Saudi’s and others so it became a national security decision to up world prices. This certainly was encouraged by the oil giants…. the so called “seven sisters”.
This was a big mistake… leaving the US looking like they may be classified as self sufficient because of all those little pools of oil now called world oil reserves just when countries like Canada were coming on stream with their oil sands project. In actual fact the oil sands are in Canada all right but the “seven sisters” owned the oil.
Eight years ago the oil sands were called the great “tar sands”.. leaving the impression that nobody was interested in the 56,000 sq miles tar sands… when in truth it holds more oil than Saudi Arabia has.
The higher oil prices gave the oil giants the extra money to push their purchases of oil sand areas they didn’t already own and pay for the building of their refineries to handle the “dirty oil”. What good would all this extra oil mean to a self sufficient oil neighbor?
The oil sands now are considered world oil reserves at prices above $17 a barrel… the cost of extracting the oil from the sand… and that leads to the question “who owns the oils sands?”
They’re on Canadian soil but the US oil giants own the right to get the oil. This is where it gets confusing. The US and Canada signed an agreement they call NAFTA which Canada agreed to sell their oil nationally at world oil prices. However, it’s not Canadian oil… it’s US oil on Canadian land!
Technically Canada is the riches nation in the world because of all this oil. However, they don’t own it. The US owns it but they agreed to give Canada a royalty on it to give an illusion that Canada is richer because of the oil sands.
However again… that royalty doesn’t start until oil is over $50 a barrel so whenever world oil prices go up over $50 a barrel, the Canadian national government gets the next $35 a barrel as a royalty.
Sounds nice but we consumers pay more at the pumps as the price of oil goes up to reflect the higher oil price that we agreed to do in the NAFTA agreement. In essence we are paying the royalty to our own government in the form of higher gasoline prices at the pump.
Due to the NAFTA agreement, the oil giants have a right to charge Canadians more at the pumps when oil prices go up but pay more in a royalty to the Canadian gov’t. Doesn’t that sound like we’re paying that royalty to ourselves? Doesn’t that sound like a “con game” that our government allows because it receives $billions of new found money that it can distribute in any way the government sees fit rather than taxing us in other ways that become more obvious and will lead to controversy? Canadians are getting no direct benefit from all this oil.
The Canadian province of Alberta gets a royalty first after the oil companies get their cost plus allowed profit. Then after $50 a barrel the Canadian gov’t gets the next $35 a barrel. This proves that oil under $50 is still very profitable. Every other oil producing country in the world has a special “make at home” gasoline price to help their citizens except Canada. That NAFTA agreement does this to us. Every barrel produced goes to the US for further refinery so we lose out in Canadian jobs. Instead, 1/2 of our refineries have been closed down by the same companies that own the oil sands and our government has allowed it.
Every year world oil reserves are reported and every year we seem to have more than the year before. The Canadian oil sands made a giant leap in world oil reserves. Now Russia has been able to show that deep drilling….going farther down than ever before…has brought new life to declining fields and opened new fields in areas never before though to contain oil. If we have more oil at the end of this year than we had last year, why then are world oil prices so high? Peak oil hasn’t been proved and is only idle speculation. Yes, oil fields will run out but others are constantly found and deep drilling has opened up a whole new approach with endless possibilities. The oil in the oil sands in Canada makes us self sufficient in oil forever!!! at least when we nationalize those sands someday.
Look how far we’ve come in the last 100 years. From wooden biplanes to supersonic jets. In less than 100 years we won’t need oil anymore. We’ll be on hydrogen and there’s more hydrogen in a cup of water to power the generators to light up a huge city like Toronto. The oil giants (now only 3 sisters) are trying to get every penny out of us with oil before they move on to something else.
Don’t be fooled…there is no peak oil…only a giant con game to scare us into thinking we need to pay more for this old fossil fuel. Go to You Tube and see for yourself all the other alternatives that will replace oil within the next 25 years. I can remember reading in the local newspaper that there’s enough capped natural gas to last forever already in the Canadian ground.
When oil prices fall below $50 a barrel and we Canadians see no royalties from our tar sands, then you’ll see how our country is being raped by the US as they pore 2.5 million barrels per day into the US and raising that level to some 6 million barrels within the next 10-15 years and only Alberta getting something for it. Then you’ll see what I’m trying to say. We’ve been sold out!!!
That’s the real conspiracy!
Whoever claimed that this is a ‘conspiracy’ that the BNP believes, is entirely wrong.
The BNP have had a policy on peak oil for a long time.
So why would they have a policy on introducing other energy sources if they thought that peak oil was a conspiracy?
Please, the UAF come up with better lies than these.
They keep it going to maintain control over the free-energy patents the US gov has taken from people. When the time comes to introduce something new, notice somebody already owns the patent? Tesla Wireless Energy was a Conspiracy yet what is Wi-Fi…the very technology that Tesla was told was quackery.
My name is taneieshia and i think them dam americans done dit it again. dat oil spill that bbe trippin up in da US of A is another one of dem wack ass POWERTRIPPIN PLANS by the government.
this is wackkk
It happened in 2006. Abiotic Oil is a joke. There is no proof it is created anywhere else but from deposits of organic material millions of years ago.
Most of the oil in the world is owned by NATIONAL OIL COMPANIES. Shell, Chevron, Exxon, BP, are very small players and tiny reserves compared to SOVEREIGN OIL COMPANIES OWNED AND OPERATED BY COUNTRIES NOT CORPORATIONS!
While you’re at it, look up EROI – Energy Return On Investment.
The next 10-20 years is going to freak you out. Sorry.
How do you explain Thermal Hydro vents creating the same Bio-Markers that are seen in “Fossil Fuels”? The Bio-markers in the vents are less than 50 yrs old???
People tend to deny things when what they believe becomes tested and threatened!